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Is It Different In Chorlton?


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#16 SarahBell

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Posted 11 December 2011 - 10:12 AM

Gosh! Not seen that advert. Hope they've got bags of money to be buying them all.

They let properties too though don't they?
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#17 Venger

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Posted 11 December 2011 - 12:02 PM

Gosh! Not seen that advert. Hope they've got bags of money to be buying them all.

They let properties too though don't they?


It's probably similar to the QuckBuyMyHouse businesses where their offer to buy is really low. They can't buy all their own auction stock near prices the main auction market aren't showing interest in. Maybe the occasional one. I don't blame Edward Mellor for bolting it on, but don't see too many sellers taking up their offer. If they do its less business for similar companies. Read enough stories about the BMVs landlord types running into trouble and ending up in distress themselves.

Edward Mellor's website shows they do let properties but it seems to be on behalf of landlords. Even if it's partly on their own behalf, all the properties to rent I've just looked at on their website seem to be in the lower end, in the less desirable ears. And the high rental prices they're seeking look prone to future shock.

#18 Venger

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Posted 11 December 2011 - 01:23 PM

LOT 50 THE COACH HOUSE 14 EDGE LANE CHORLTON MANCHESTER AVAILABLE AT 650,000
http://www.rightmove...l?premiumA=true on at 600k

Overall - I think if I've added it up right they sold 29 out of 66 (4 before, 3 after and 22 at the auction) so less than 50%

On rightmove for chorlton cum hardy 10th Dec
400 properties in total
288 properties for sale found (exc SSTC)


Lot 50, available at 650,000 and being rented out for 1,400 a month.

At least sellers have to pay entry fees for each auction. And when they don't sell, they're still lumbered with them, when they want to sell. Market slowly worsening for sellers, more owners needing to sell and a market always prone to sudden shock.



What are the risks of selling by auction?

  • A wasted entry fee if we fail to sell.
http://www.edwardmellor.co.uk/auction/selling/

Not enough sellers in the market with a real need to sell yet. With only 66 lots in the December auction, I don't blame Edward Mellor for not getting too pushy with some sellers to be more realistic with their guide and reserve prices. Seller does it their own way, thinking the market will pay, and at least Edward Mellor gets its entry fee.




#19 Venger

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Posted 14 January 2012 - 04:16 PM

The adjoining semi, number 141, last sold on 21st Nov 2002 for 242,500.

A flicker of encouragement for more value to be found in the market in the weeks ahead, at 240,000 Guide Price. I don't think it sold at the last Edward Mellor auction when guide priced at 250,000.


The semi adjoining the house they've been trying to sell at auction which looks like it's not had any work done to it for decades, has just gone on the market. Currently asking a price of 409,950 and bought in 2002 for 242,500. That wreck next door which I doubt any one is living in can't help this new seller's cause.

http://www.rightmove...y-36512030.html

#20 8 year itch

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Posted 17 January 2012 - 09:26 AM

I have just heard over the jungle drums that fat Kirsty and gormless Phil are in Chorlton today. Got to be worth 50k on the asking price.

There is no ladder.

JY


No need to sell up, the next phase of the economics cycle is going to be very positive for anyone that owns property.

All I'm sayings is, don't listen to the property bears people, they are wrong.


#21 SarahBell

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Posted 17 January 2012 - 04:11 PM

I have just heard over the jungle drums that fat Kirsty and gormless Phil are in Chorlton today. Got to be worth 50k on the asking price.



Sooner or later property programs have to collide...

When will one of that Sian's properties be features on LLL?
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#22 Venger

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Posted 24 January 2012 - 12:40 AM

Gosh! Not seen that advert. Hope they've got bags of money to be buying them all.

They let properties too though don't they?


They don't make the same offer in their latest local newspaper advertisement for February's auction.

No properties of interest for me in February's catalogue for South Manchester.

4 of the 52 entries: The vendor of this property is a director of Edward Mellor Ltd.

http://www.edwardmel...tion/catalogue/

#23 SarahBell

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Posted 24 January 2012 - 02:50 PM

They don't make the same offer in their latest local newspaper advertisement for February's auction.

No properties of interest for me in February's catalogue for South Manchester.

4 of the 52 entries: The vendor of this property is a director of Edward Mellor Ltd.

http://www.edwardmel...tion/catalogue/



i don't know why anyone would sell to them rather than go to auction...
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